Chubb Corp. (CB) Rating Lowered to Neutral at Goldman Sachs Group Inc.
Chubb Corp. (NYSE:CB) was downgraded by equities research analysts at Goldman Sachs Group Inc. from a “buy” rating to a “neutral” rating in a note issued to investors on Tuesday.
A number of other brokerages have also weighed in on CB. Zacks Investment Research raised Chubb Corp. from a “sell” rating to a “hold” rating in a research note on Wednesday, August 31st. Credit Suisse Group AG set a $136.00 target price on Chubb Corp. and gave the stock a “buy” rating in a research report on Monday, September 12th. Barclays PLC increased their target price on Chubb Corp. from $133.00 to $139.00 and gave the stock an “overweight” rating in a research report on Friday, September 30th. Finally, Morgan Stanley increased their target price on Chubb Corp. from $136.00 to $140.00 and gave the stock an “overweight” rating in a research report on Thursday, July 28th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and eleven have given a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $132.00.
Chubb Corp. (NYSE:CB) opened at 125.42 on Tuesday. The firm has a market capitalization of $58.36 billion, a PE ratio of 16.80 and a beta of 0.86. Chubb Corp. has a 1-year low of $106.82 and a 1-year high of $131.00. The company’s 50-day moving average price is $124.90 and its 200 day moving average price is $125.86.
Chubb Corp. (NYSE:CB) last issued its quarterly earnings results on Tuesday, October 25th. The company reported $2.88 earnings per share for the quarter, topping analysts’ consensus estimates of $2.58 by $0.30. Chubb Corp. had a return on equity of 9.88% and a net margin of 11.20%. The company had revenue of $7.57 billion for the quarter, compared to analyst estimates of $7.36 billion. During the same quarter in the prior year, the company posted $2.37 EPS. The business’s revenue for the quarter was down 4.0% compared to the same quarter last year. On average, equities analysts anticipate that Chubb Corp. will post $9.79 EPS for the current year.
In other news, Director David H. Sidwell purchased 830 shares of the firm’s stock in a transaction that occurred on Monday, September 26th. The stock was acquired at an average cost of $124.90 per share, for a total transaction of $103,667.00. Following the completion of the purchase, the director now owns 7,386 shares of the company’s stock, valued at $922,511.40. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.43% of the stock is owned by corporate insiders.
A number of institutional investors have recently bought and sold shares of the company. Pathstone Family Office LLC increased its position in Chubb Corp. by 47.8% in the second quarter. Pathstone Family Office LLC now owns 773 shares of the company’s stock worth $101,000 after buying an additional 250 shares during the period. Assetmark Inc. increased its position in Chubb Corp. by 87.8% in the third quarter. Assetmark Inc. now owns 909 shares of the company’s stock worth $114,000 after buying an additional 425 shares during the period. Enterprise Financial Services Corp increased its position in Chubb Corp. by 1.8% in the third quarter. Enterprise Financial Services Corp now owns 941 shares of the company’s stock worth $118,000 after buying an additional 17 shares during the period. Motco increased its position in Chubb Corp. by 3.5% in the second quarter. Motco now owns 915 shares of the company’s stock worth $120,000 after buying an additional 31 shares during the period. Finally, FNY Managed Accounts LLC increased its position in Chubb Corp. by 31.6% in the second quarter. FNY Managed Accounts LLC now owns 987 shares of the company’s stock worth $129,000 after buying an additional 237 shares during the period. Institutional investors and hedge funds own 87.08% of the company’s stock.
Chubb Corp. Company Profile
Chubb Limited (Chubb), formerly ACE Limited, is a holding company. The Company, through its subsidiaries, provides a range of insurance and reinsurance products to insureds across the world. The Company’s segments include North America Commercial P&C Insurance, North America Personal P&C Insurance, North America Agricultural Insurance, Overseas General Insurance, Global Reinsurance and Life Insurance.
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